auto finance industry trends

AUTO FINANCE INDUSTRY TRENDS 2020

The defi Team defi INSIGHT, Thought Leadership

Today’s lending market looks very different than it did even just a handful of years ago. More customers are checking auto prices and lending rates online to find the financing companies that offer the best deals. The result: An ultra-transparent and aggressively competitive market.

auto loan default statistics

AUTO LOAN DEFAULT STATISTICS 2020

The defi Team defi INSIGHT, Thought Leadership

According to the New York Fed, US subprime loans are going delinquent at rates unseen since the Great Recession. Auto loan delinquencies 90 or greater days past due increased 47 basis points year-over-year to 4.64% ($60.2 billion) of all outstanding auto loans and leases in Q2, 2019. That’s baffling, considering the comparatively strong economic climate, record low unemployment, and many unfilled job openings.

loan analytics software

LOAN ANALYTICS SOFTWARE FOR THE BANKING INDUSTRY

The defi Team defi INSIGHT, defi LOS

Big data has transformed businesses in every industry. Banks now use data acquired from nearly every step of the loan origination process. The reward: Detailed insight that can be applied to continuously improve lending efficiency and profitability.

lending risk

BUSINESS PROCESS AUTOMATION FOR BANKING LOAN ORIGINATION

The defi Team Automation, defi INSIGHT

Business process automation has helped the banking industry bring efficiency to high-volume processes. It brings speed and accuracy to account openings and closures, credit card applications, and loan originations. Recent fintech innovations are transforming the loan origination process with lower processing costs, better quality, and consistency in lending decisions—and lower risk.

business process automation companies

WHICH LOAN ORIGINATION SYSTEM SOFTWARE IS BEST FOR YOUR ORGANIZATION?

The defi Team defi INSIGHT, defi LOS

It’s an exciting time to be in the lending industry. Major technological advances in loan origination system software have made it easier than ever to process loan applications and automate decisioning. Computers are now doing most of the tedious work, saving organizations hours of potentially wasted time and countless resources.